Corporate governance provides the framework for the management and supervision of TÜV NORD GROUP. Corporate governance within the TÜV NORD GROUP stands for responsible corporate management and control geared towards long-term value creation. It guarantees the correctness of all business processes and organisational structures within the Group. The basis for corporate governance is provided by the current requirements of the German Stock Corporation Act.
All key requirements for joint stock companies in Germany as specified by the German Act on Control and Transparency in Business (Contra) and embodied in the German Stock Corporation Act are fulfilled within the TÜV NORD GROUP:
- The Supervisory Board and Board of Management have established efficient external and internal control structures and processes.
- The Internal Control System (ICS) includes a risk management system and enables early identification and prevention of risks.
- The Group's Internal Auditing Department continuously monitors the effectiveness of the control processes and reports on this directly to the Board of Management on a regular basis.
- The compliance organisation, with a central point of contact for compliance issues, supports all employees in ensuring lawful and responsible actions.
Corporate governance in day-to-day business is supported by precise rules and instructions. All employees have permanent access to these rules and instructions via the intranet:
- Corporate guidelines of the TÜV NORD GROUP
- Code of conduct for all employees of the TÜV NORD GROUP in Germany and abroad
- Group Regulations
- ALTER TECHNOLOGY GROUP procedures
- Integrated management system, certified to ISO 9000
- The TÜV NORD GROUP has appointed an ombudsman